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ยป VISIT US ONLINE @ DSNEWS.COM 11 FREDDIE MAC PRICES CREDIT RISK TRANSACTION AT NEARLY A HALF BILLION DOLLARS Freddie Mac priced its second Structured Agency Credit Risk (STACR) transaction of 2016 at $475 million, according to an announcement from Freddie Mac. e transaction, STACR 2016-HQA1, contains loans with LTVs ranging from 80 to 95 percent, according to Freddie Mac. e reference pool consists of single-family mortgages with an aggregate unpaid principal balance (UPB) of $17.5 billion. e pool contains a subset of 30-year fixed-rate single-family mortgages Freddie Mac acquired during a three month period between April 1, 2015, and June 30, 2015, according to the announcement. "We saw secondary spreads tighten with this transaction," said Mike Reynolds, VP of Credit Risk Transfer for Freddie Mac. "is may be the reversal of spreads widening." Co-lead managers and joint bookrunners for the transaction are Barclays and Wells Fargo Securities, according to Freddie Mac. Co- managers are Cantor Fitzgerald, Deutsche Bank Securities, JPMorgan, and Nomura. Freddie Mac began its credit risk transfer sharing initiatives in 2013 as a way to transfer a portion of the risk on residential single-family mortgages to private investors and away from taxpayers. Last month, Freddie Mac announced enhanced disclosures for its single-family credit risk transfer initiatives that included quarterly updates of credit scores for outstanding loans in all transactions, updated mark-to- market LTVs provided quarterly, loan-level mortgage insurance details, and details on loan modifications such as the type of modification and the program it was completed through. In early February, Freddie Mac announced its first ACIS transaction of 2016, with a combined maximum limit of approximately $450 million of losses on single-family loans. rough its credit risk transfer initiatives, Freddie Mac has transferred a substantial portion of credit risk for more than $422 billion in UPB on single- family mortgages. e Enterprise's investor base has grown to more than 190 unique investors (including reinsurers). www.results-software.com powered by: VALUE ADDED SERVICES Property Maintenance Cleaning Services Landscaping Pools: Service/Repair/Maintenance Rehabs Tree Removal Remodels Plumbing Services Electrical Garage Doors Repair Services Eviction / Re-Key Services Foundations Interior & Exterior Painting Flooring Sales & Installation Roofi ng A/C & Heat Pest Control Appliances Service areas inclusive of, but not limited to: TX, OK, TN, GA, MS, LA, AR, AL, MO, KS Truly Noble Services, Inc. | www.trulynobleservices.com | (855) 898-2455 We've honed our skills for over 25 + years as a leading services provider in property preservation, rehabs, and repairs. Our commitment to bringing quality and consistency of services to the forefront shows in our dedication to training and constant technology updates to ensure our customers that we will be there for future support in services. All this commitment has laid the foundation for our long term success. From real estate agents to corporate clients who need anything from property maintenance to remodeling, we will show you why Truly Noble Services has earned the reputation as the service provider of choice. Where Servicing and Property Services Meet PROUD TO BE A VETERAN OWNED AND OPERATED BUSINESS www.results-software.com powered by: VALUE ADDED SERVICES Property Maintenance Cleaning Services Landscaping Pools: Service/Repair/Maintenance Rehabs Tree Removal Remodels Plumbing Services Electrical Garage Doors Repair Services Eviction / Re-Key Services Foundations Interior & Exterior Painting Flooring Sales & Installation Roofi ng A/C & Heat Pest Control Appliances Service areas inclusive of, but not limited to: TX, OK, TN, GA, MS, LA, AR, AL, MO, KS Truly Noble Services, Inc. | www.trulynobleservices.com | (855) 898-2455 We've honed our skills for over 25 + years as a leading services provider in property preservation, rehabs, and repairs. Our commitment to bringing quality and consistency of services to the forefront shows in our dedication to training and constant technology updates to ensure our customers that we will be there for future support in services. All this commitment has laid the foundation for our long term success. From real estate agents to corporate clients who need anything from property maintenance to remodeling, we will show you why Truly Noble Services has earned the reputation as the service provider of choice. Where Servicing and Property Services Meet PROUD TO BE A VETERAN OWNED AND OPERATED BUSINESS In February 2016, foreclosures sold for an average discount of 17 percent while short sales were discounted an average of 16 percent, up from 13 percent and 12 percent, respectively, in January, according to the National Association of Realtors. KNOW THIS